All Forum Posts by: Dave Dunaway

Hey BP family, I'm looking to BRRRR in the Cincinnati/Dayton areas and want to connect with other BRRRR investors. I'm interested in small multi-family in B- or better areas. I have resources for investing but need to expand my network. If anyone has done these type of investments recently I'd love to connect.

What are different methods used to negotiate seller financing for deals found through wholesalers? Are there creative ways that incentivize wholesalers to work with investors looking for seller financing?

@Joe Villeneuve hopefully this will help. Here is a list of the inputs I have so far (numbers are for example purposes only):

I then calculate ALL combinations of these values; 485099 different combinations. Of those combinations, 426 will meet the minimum requirements (8% minimum ROI, $300/mo. cash flow). I can now look to see which combination of inputs will maximize my cash flow:

Looks like I can't spend more than $2000 on the rehab and I need to put 25% down with a 3% interest rate. 

But if I want to maximize ROI, I need to minimize the rehab and only put 15% down (assuming I can get max rent), with max ROI at 10%

It also shows that I can't go below $1750 on rent with no rehab to still meet my requirements:

Of course, any analysis is only as good as your inputs and the quality of any assumptions, and "optimization" is based on actual goals for any deal but at least I know my limits for negotiating.

Sorry @David Parathundil but this calculator still needs some work before I can let anyone use it - only the outputs are in an excel spreadsheet. I'm trying to gauge if there would be an interest in this type of tool.

@Joe Villeneuve thanks for the reply. The tool I'm working on takes min and max of inputs like cost, rent, interest rate, etc. and optimizes these to both meet the required minimum cash flow and ROI and show which combinations of values within the range maximize them.

Does anyone know of a deal analysis calculator or tool that doesn't just take the numbers and show IF a deal is good but, given, let's say, a certain ROI and cash flow, shows HOW a deal could be negotiated to meet basic requirements? I've done some preliminary searches and looked through the app stores and didn't see anything.

Actually, I've coded the back end of a simple one and it seems to work but if there is already one out there I don't want to waste my time.

If there isn't one, is this the kind of tool that you would find useful?

@Brandon Sturgill thanks for your advise. I'll keep this in mind as I continue looking for good investments. 

Thanks for the info. Do you know if the city discourages these types of partitions or are they relatively indifferent so long as the requirements are met?

Can anyone point me to the city ordinances or codes that govern creating basement apartments in Columbus OH? Is there anyone here that has done it before?

Hey everyone, I'm branching out and starting long-distance BRRR and wondering what methods you have found for inspecting contractors' work. Do you rely on the GC or real estate agent? Do you find an independent, trusted associate or inspector in the area? Are there companies that specialize in this? What have you found that works? I would also be interested to know what you have found that didn't work.